Ethereum’s Layer 2 platform, Polygon, released its Zero Knowledge Ethereum Virtual Machine (zkEVM) scaling technology for mainnet on Monday. This has reduced transaction fees and increased throughput for smart contract deployment.
Ethereum Co-founder Initiates First Transaction on Polygon’s zkEVM
Polygon says that it makes all the aspects of its zkEVМ open source so developers can study and share the code. This will allow more innovations to contribute to the zero-knowledge space. Additionally, Ethereum parity means that a developer can copy existing smart contracts onto his Рolygon zkEVМ.
Рolygon’s zkEVМ is a zero-knowledge rollup scaling solution equivalent to the Ethereum Virtual Machine. And this technology makes it possible to aggregate thousands of off-chain transactions with evidence that includes minimal data summaries published on the Ethereum mainnet.
“We want to be extremely aligned to the web3 ethos, and we want more experimentation.” – Sandeep Nailwal, the Co-founder of the poIygon, stated.
Рolygon shared the historic moment when VitalikButerin made the first trade on the Polygon zkEVМ mainnet beta. According to the poIygon team Vitalik Buterin, the co-founder of the Ethereum blockchain has launched the first transactions on the new zkEVМ. He sent 0.005 ETH to a random address and the transaction was successfully sent.
According to Рolygon’s press release, more than 50 companies are building with Рolygon’s zkEVМ technology. Nailwal also explains that this is a new technology, so he cautions users to be very careful and not put their savings into it too soon. Also, he believes this innovate ZK technology is the future of the Ethereum ecosystem.
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